I have been in touch with an estate agent and have been told that as long as Paul is working full time, in the trade he applied under for residency, we can have a mortgage straight away with a 10% deposit...We are chuffed to bits as we have seen a couple of houses that have really impressed us..
G'day
I would advise to treat all advice from a real estate agent with a great deal of caution.
BTW, if you have a permanent visa, you could apply for a mortgage with a deposit of 0%, nowt, nothing, nada. All you need is the ability to demonstrate you can pay the mortgage. Having a deposit helps but is not strictly required. Having a deposit of less than 20% however does mean that you will have extra costs to pay - Builders Mortgage Insurance which gets higher and higher as your deposit gets lower and lower.
Hi, we are hoping to move to Brisbane later this year, to enable us to get a mortgage do we need to bring anything from the UK, ie to prove we have had a mortgage previously, bank stmts etc,? We will have a perm visa and deposit, Thanks Zeta xx
I used an Australian broker and arranged my mortgage from the UK before even setting foot in Oz, I also was then able to use my english salary to get the funds required. By doing this I was able to purchase land that I had spotted whilst on holiday, I secured the land at a good price as by the time I made the move to Oz the land that I had purchased had gone up $50,000.00
The company was ADA Lending they are based on the Sunshine Coast, QLD
Become a permanent resident. It is the only way to qualify.
Hey bob.
Would i need to be in full time work to get a mortgae in this circumstance please.
We are going to give 75% Deposit on a house up to $400,000 , i.e. we have $300,000 cash. The missus has more but hers is the 200 000 and mines the 100 000. Id like a mortgage for 100,000 withonly working part time or setting up my own shop, is this possible?
Im permanent resident 136 visa holder and will be first time buyer. Do we qualify for the First home buyers grant and stamp duty discount?
I would advise to treat all advice from a real estate agent with a great deal of caution.
BTW, if you have a permanent visa, you could apply for a mortgage with a deposit of 0%, nowt, nothing, nada. All you need is the ability to demonstrate you can pay the mortgage. Having a deposit helps but is not strictly required. Having a deposit of less than 20% however does mean that you will have extra costs to pay - Builders Mortgage Insurance which gets higher and higher as your deposit gets lower and lower.
Thanks for the advice Bob...We still havent decided on wether to build our own or buy ...Hubby is in the trade and thinks we could save lots by him and his mates building it..
However I want just to be able to move in and do nothing...We do have more than 10%, we can put down 50% but was just giving an example of what they said..
It will be easier once I get there so we can deal with it together..your advice is very much appreciated Bob..Will be more prepared now, not to just listen to the first one who thinks they are giving us a good deal
Jo x
We've read in an Australian mag from a financial advisor that one thing to consider is investing your lump sum in a bank account giving off 6.5% - 7% interest and live off what that is making each month (approx 500-700 dollars). We will defo take advice when we get there on this issue. Its also true that you don't pay tax on any money you get in UK if you place it in an aussie account, you'll only pay tax on the interest it makes. Something else for you to think about.
hi bob,my oh is a painter and decorator,we are planning to emigrate next year on a 495 temporary visa.we will bring about $100,000 with us.we want to rent for 6 months then buy.i will also work around 15 hours a week. (currently in supermarket).we would ideally like to buy a 4 beds,2 bathroom home as have 4 kids.around $350,000.not sure how much oh would be earning,could be from$650-$1200 per week.would we be able to get a morgage for around $250,000?had a look on real estate loan calculators but don't seem to give much on a lower wage.oh is a fantastic painter!please help,a worried tracy.
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TRACY 35,STEVE 33 (PAINTER & DECORATOR),GEORGE 9,LEWIS 7,MAX 4 ,CHARLIE 2. 4/4/08 175 SKILLED VISA GRANTED!!!!!! WAHOO!!!!!:jiggy: LETS SELL THIS HOUSE AND GET OUTTA HERE!!
